Sensex gain 462 point, Nifty settles near 15,700
The week’s trading for Indian market indexes ended on a positive note as they extended their gains for the second straight session on Friday, driven by robust demand for companies in the automotive, banking, and consumer sectors.
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The week’s trading for Indian market indexes ended on a positive note as they extended their gains for the second straight session on Friday, driven by robust demand for companies in the automotive, banking, and consumer sectors. The unexpected upward movement was also helped by index heavyweight Reliance Industries (RIL).
The domestic indices followed overnight gains on Wall Street by Asian markets, which traded higher today.
The NSE Nifty increased by 143 points or 0.92 percent to conclude at 15,699 today, while the 30-share BSE Sensex increased by 462 points or 0.88 percent to close at 52,728. Yesterday, both indices experienced a similar quantity of growth.
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As the Nifty Midcap 100 increased 1.21 percent lower and the small-cap moved 1.31 percent higher, mid- and small-cap shares ended on a solid note.
The National Stock Exchange’s compilation of 15 sector gauges, 14 of which reached positive closing values. Nifty Auto, Nifty Private Bank, Nifty Consumer Durables, and Nifty FMCG sub-indices all exceeded the platform by increasing by as much as 1.97%, 1.75%, 1.56%, and 1.24%, respectively. The Nifty IT index finished 0.89 percent lower.
In terms of individual stocks, M&M was the highest Nifty gainer, rising 4.36 percent to 1,072.50. Hindustan Unilever, Bajaj Finance, IndusInd Bank, and Hero MotoCorp were also among the winners.
2,396 shares on the BSE climbed while 909 fell, resulting in a positive total market breadth.
“Post correction over past couple of weeks, equity markets ended this week with positive returns. Major key indices and most sectoral indices gained during the week. Correction in crude oil prices from recent peak and softening in commodity prices offered some relief to the markets in an otherwise high global inflation environment. Monsoon progress is an important factor to watch as good monsoon would calm concerns with respect to food inflation,” said Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities.
“Equity markets in the near term are expected to continue reacting to news related to inflation, monetary policy and commodity price movement,” Mr Chouhan added.
On the 30-share BSE index, the top gainers included Maruti, M&M, IndusInd Bank, Bajaj Finance, HUL, ICICI Bank, Reliance Industries, Tata Steel, Nestle India, and the HDFC twins (HDFC and HDFC Bank).
Tech Mahindra, Infosys, HCL Tech, TCS, Wipro, and Sun Pharma, on the other hand, had negative financial results.
Additionally, shares of Life Insurance Corporation of India (LIC), the largest domestic financial investor and insurer in the nation, declined 0.48 percent to close at 661.70.